India Gold Demand May Hit Record 1,000 Tons

By

Biman Mukherji And

Rajesh Roy

Oct. 11, 2011 7:04 a.m. ET

NEW DELHI -- India's gold demand may hit a record 1,000 tons this financial year amid growing rural incomes following another year of plentiful monsoon rains that helped the agricultural sector, but that may not necessarily mean a surge in demand during the October-December festival season as has been the case in previous years.

This signals the maturity of a market that was once largely tied to demand during specific festivals, but...